Coinbase (COIN) Stock Jumps 4% Following CFTC Approval for Perpetual Futures Trading
The post Coinbase (COIN) Stock Jumps 4% Following CFTC Approval for Perpetual Futures Trading appeared on BitcoinEthereumNews.com. Key Highlights Coinbase (COIN) shares gained 3.72% to close at $189 on May 29 following CFTC authorization to provide offshore cryptocurrency perpetual futures to American traders. The exchange will partner with Deribit — purchased for $2.9 billion — to roll out crypto perps, becoming the first American exchange to secure this regulatory clearance. CFTC authorization encompasses “digital commodity” perpetual contracts for Bitcoin, Ethereum, Solana, Dogecoin, and additional assets, though Coinbase hasn’t disclosed its final offering lineup. JPMorgan’s CEO Jamie Dimon launched a direct assault on Coinbase CEO Brian Armstrong and pledged to oppose the CLARITY Act, claiming Coinbase functions like a financial institution while evading banking regulations. From a technical standpoint, COIN confronts resistance at its 50-day SMA of $189 and the $213 threshold, wh